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OverviewIndia’s Updated Approach to Crypto-Asset ReportingThe Union Budget 2026–27 has initiated a significant transformation in the Income-tax Act, 2025, by replacing the original penalty provisions...

1. OverviewThe Income-tax Act, 2025 (ITA 2025) was designed to simplify and clarify tax laws. However, its initial effect on Non-Profit Organisations (NPOs) was to introduce interpretational ambiguiti...

OverviewThe Union Budget 2026 has introduced several provisions that are particularly relevant to non-resident individuals (NRIs) and foreign investors. These amendments are aimed at enhancing the inv...

Introduction: Data as the Core Asset for NBFCsIn today’s financial sector, data is no longer merely a resource—it forms the backbone of a Non-Banking Financial Company’s (NBFC’s) business model. NBFCs...

IntroductionThe regulatory landscape for trusts and non-profit organizations (NPOs) is experiencing significant transformation with the implementation of the Income-tax Act, 2025 (ITA 2025). With a de...

Background and Contexti) Evolution of Taxation on Buy-Back of SharesTo fully appreciate the amendment proposed in the Finance Bill, 2026, regarding section 69 of the Income-tax Act, 2025, it is import...

1. IntroductionThe issue of whether an assessee can claim deduction for employees’ contributions to Provident Fund (PF), Employees’ State Insurance (ESI), and similar welfare schemes has long been a c...

1. Overview: India’s Growth Prospects and Budgetary ExpectationsIndia, currently the fourth-largest global economy and set to soon surpass others, remains focused on deepening its developmental engine...

Introduction: Navigating a Shifting Global LandscapeIndia is preparing for the Union Budget scheduled on 1st February 2026, amid significant global turbulence. Current international challenges include...

India is currently navigating a period of robust economic momentum and increasing global engagement. However, beneath these positive trends, challenges of procedural complexity, regulatory ambiguity,...

Introduction and Legislative BackgroundSection 292BB, incorporated via the Finance Act, 2008 and effective from April 1, 2008 (applicable from Assessment Year 2008-09), was introduced to address growi...

Background: Transition from Section 79 to Section 119i) Evolution of Anti-Abuse ProvisionsSection 79 of the Income-tax Act, 1961 was introduced to deter assessees from acquiring loss-incurring compani...

Introduction and Effective Date The Union Budget for the financial year 2026-27 was presented by India’s Finance Minister, Nirmala Sitharaman, on February 1, 2026. The Finance Bill, 2026, introduces s...

Introduction: Understanding Buy-back of Shares and Its Tax EvolutionBuy-back of shares involves a company repurchasing its own shares from existing shareholders at a predetermined price, leading to a...

OverviewThe 2016 overhaul of the Benami Transactions (Prohibition) Act, 1988 by way of the Benami Transactions (Prohibition) Amendment Act, 2016 represented a paradigm shift in India’s fight against u...

Revised Income Tax Rates(i) General Tax Slabs and RatesThe Finance Bill 2026 has not introduced any modifications to existing tax slabs, surcharge, or education cess for both the old and new tax regim...

Overview of Economic Landscape and Budget FocusThe financial year 2025-26 experienced notable turbulence with rapid domestic and international economic shifts. India observed changes in consumer spend...

Overview of Legislative Realignment in Tax PolicyThe Finance Bill, 2026 represents a milestone in Indian tax law, marking a decisive move from judicially interpreted frameworks to a regime firmly root...

Introduction: The 2026 Union Budget introduced a pivotal initiative—the Foreign Assets of Small Taxpayers Disclosure Scheme, 2026 ("the Scheme")—to address issues of undisclosed foreign assets and inc...

IntroductionThe European Union (EU) and India have concluded negotiations on a landmark Free Trade Agreement (FTA), representing the most significant opening of India's markets to date and the largest...